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Optimising asset value through world class asset management strategies
Corporate Real Estate Journal,
6
(2),
122-144
(2016)
Abstract
In today’s economic climate, asset managers are constantly challenged to cut costs while increasing revenue. Shareholders demand more, as do occupiers. Based on global experience and practical execution success, this paper will describe how the use of world class asset management strategies can exceed the expectations of both sides of the revenue and expense equation and enhance value. The focus of this paper is on the human element of the role of asset managers and property managers. It will demonstrate the importance of valuing people and provide insight into how to achieve world class asset management practice (WCAM). It will also demonstrate how the achievement of WCAM drives peak performance and engenders value leverage. The paper will highlight that a creative approach to the management of an asset is a critical element to ensuring that an asset or portfolio can take its place in the ‘world class’ category and outperform its competition.
Keywords: value leverage; human element; creative approach; seamless service; exceed customer expectations; outperform sustainability drivers
The full article is available to subscribers to the journal.
Author's Biography
Catherine Lai (Miners) is the Founder and CEO of Albest International Limited, a boutique advice and consultancy service specialising in commercial office, retail and mixed use asset classes. Under Catherine’s guidance, the company provides advice to its clients on the following subjects: World Class Asset Management Practice – that leverages value and delivers international recognition and asset/portfolio profiles; International Real Estate Investment – Highly focused on East/ West investment, and a service that drives successful negotiation, deal finalisation and ongoing advice to place assets under management. Catherine is an interculturalist who has lived and worked across Europe, South East Asia and the Antipodes. She is a Chartered Surveyor with more than 25 years’ experience in international markets. Catherine’s experience stems from: managing an architectural, engineering and project management company in Bangkok Thailand whilst working alongside an ex Hotelier and award winning architect; Driving change as a General Manager (CBRE Australia) across two major assets to reset client and staff expectations and develop service excellence, and build community; leadership of 110 employees across a $6bn portfolio as National Director, Asset Management Services (JLL Australia).
Brenna Walraven has a proven track record in executing the business case for how to successfully lead a national effort of improved energy management, operational efficiency, customer service delivery and environmental stewardship. With a focus on strategic execution of sustainability, customer satisfaction and corporate social responsibility, CSS clients represent over 300m sq ft of national multi-sector real estate. Her experience includes roles as head of property operations and portfolio manager, with responsibilities and skills including providing strategic leadership and direction for a $12b, 100m sq ft United States national multi-sector real estate portfolio reporting to the CEO. Brenna understands the importance of driving improved customer service and satisfaction, and has directed national efforts that resulted in USAA Real Estate Company (USAA Realco) team members driving better than 95 per cent tenant satisfaction over a ten-year span – a company record. Brenna is actively involved in the Building Owners & Managers Association Building Owners & Managers International (BOMA), and, as part of her leadership within BOMA, she partnered with the Clinton Climate Initiative in 2007 to help develop a private sector approach to energy performance contracting (EPC). In 2015, she led the efforts to relaunch the BOMA Energy Performance Contract (BEPC) model with new refined tools, case studies and implementation partners. Similarly, she was a founding leader in the development of the BOMA Energy Efficiency Program (or BEEP) and was named chair of the BEEP Advisory Board in 2015 to lead the updating, recording and relaunching of the BEEP programme, which has trained over 20,000 real estate professionals since 2006. Brenna Walraven has served on California Governor Schwarzenegger’s Real Estate Leadership Council and has testified before the US Congress on issues of energy efficiency and sustainability.
